Page 247 - Bruce Ellig - The Complete Guide to Executive Compensation (2007)

Chapter 6. Employee Benefits and Perquisites 233

Executive sabbaticals are more generous than leaves available to others in the organization.
A typical executive sabbatical would be a six-month period, fully paid (or fully supplemented),
during which the individual undertakes a civic responsibility, volunteer work, pursues an
advanced degree, or simply “gets away from it all” in order to return to work with fully
recharged batteries. Conceptually, sabbaticals are logical and meet an apparent need, but many
executives are afraid to take advantage of the benefit. Some are concerned that their old job
may not be there when they get back, especially if the sabbatical is for a year or more. Like
generous vacation policies, it is of at least moderate importance.

Military Leave
In addition to meeting the legal requirements for active and reserve duty, many companies
supplement these requirements. Reservists’ pay is “made whole” with company supplements
and, when the individual is called to active duty, this full-pay supplement may continue for
a stated period of time. This benefit is of modest interest, although most executives are
unaffected.

Parental Leave
In addition to the benefits described in the “Family and Medical Leave” section, companies
may choose to extend the period of paid and unpaid time off. In some situations benefits will
begin when short-term disability ends. See “Elder Care.” This benefit is of modest interest
to executives.
Flexible Work Schedules

In response to a growing need among employees to balance work and family, many compa-
nies have adopted flexible work schedules for those interested. While such schedules do not
provide additional pay for lost time, they increase flexibility in the workweek schedule.
Flexible scheduling includes variable start/stop times, variable workdays, and job sharing
(e.g., two half-time workers equally share one full-time position). It also includes work at
home, frequently referred to as telecommuting because of the electronic movement of the
work rather than the physical movement of the individual. Not only does it eliminate trans-
portation costs, but also evidence suggests it improves morale and increases productivity. For
executives, the flexible work schedule also means working while commuting, whether being
driven to work or back or in the air. Transportation provides another opportunity for the
executive to extend his or her workweek. Flexible schedules can also include the workyear,
with the person able to choose when to take days made up from a total of vacation, personal
leave and sick leave, and paid holidays.
Flexible work schedules for the executive’s staff may make work more difficult because
invariably the person the executive wants to see is not in. However, the flexibility to work
late in exchange for coming in later than scheduled may be of moderate importance to the
executive. Another option is working longer during the workweek to free up some weekend
time for family.

Professional Development
Conferences, programs, and seminars that either help the person better do his or her current
job or prepare the person for greater responsibilities are attractive both to the person and the